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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash Flows from Operating Activities    
Net Income $ 7,605 $ 12,246
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities:    
Depreciation and amortization 15,943 15,666
Non-cash operating lease cost 2,953 3,582
Inventory write down and property and equipment impairment due to restructuring 843 832
Stock-based compensation expense 8,117 5,190
Deferred income taxes (2,056) (4,117)
Provision for (recovery of) credit losses 473 (449)
Recognition of insurance recoveries (3,886) 0
Other 444 382
Changes in Assets and Liabilities:    
Accounts receivable 12,252 (11,597)
Contract assets 1,454 (6,139)
Inventories (21,243) (13,821)
Production cost of contracts (401) 879
Other assets 343 (136)
Accounts payable (8,177) 15,674
Contract liabilities (15,349) (5,356)
Operating lease liabilities (2,471) (2,930)
Accrued and other liabilities (6,591) (3,788)
Net Cash (Used in) Provided by Operating Activities (9,747) 6,118
Cash Flows from Investing Activities    
Purchases of property and equipment (10,919) (9,068)
Proceeds from sale of assets 0 51
Payments for acquisition of BLR Aerospace L.L.C., net of cash acquired (114,353) 0
Post closing cash received from the acquisition of Magnetic Seal LLC, net 0 365
Net Cash Used in Investing Activities (125,272) (8,652)
Cash Flows from Financing Activities    
Borrowings from senior secured revolving credit facility 133,500 0
Repayments of senior secured revolving credit facility (99,700) 0
Repayments of term loans (3,125) (33,500)
Repayments of other debt (165) (168)
Proceeds from issuance of common stock in public offering, net of issuance costs 85,107 0
Net cash paid upon issuance of common stock under stock plans (4,038) (2,595)
Net Cash Provided by (Used in) Financing Activities 111,579 (36,263)
Net Decrease in Cash and Cash Equivalents (23,440) (38,797)
Cash and Cash Equivalents at Beginning of Period 46,246 76,316
Cash and Cash Equivalents at End of Period $ 22,806 $ 37,519